Autumn Statement 2014: Key business tax announcements and analysis

The Chancellor has given his Autumn Statement and the LexisPSL Tax team has put together a summary of the key business tax announcements.  Alongside this, the team provide analysis of what this means to your practice and your clients, and provide links to relevant external sources (including the HMRC website), and further practical guidance in LexisPSL Tax.

Key Tax Announcements

Key announcements that were new for the Autumn Statement 2014 include:

  • reforming SDLT residential rates, including changing the charging structure to apply on a 'slice' rather than a 'slab' basis,
  • introduction of restrictions on carry forward loss relief for 'bad losses' of banks,
  • UK actions in relation to the Base Erosion and Profit Shifting (BEPS) project,
  • regulations to restrict the use of share capital reductions in takeovers share capital reductions in takeovers using a scheme of arrangement,
  • blocking of 'B share schemes' commonly used to return value to shareholders, and
  • restrictions on tax relief available for business incorporations

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Filed Under: Autumn Statement

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